Social media performance of banks was analyzed through SSI (Simplify360 Social Index), a unique proprietary methodology aimed in gauging performance of brands on social media. Based on the research done by Simplify360, here are the key highlights.
- ICICI bank performs the best on social media followed by Yes Bank. At third place is Axis Bank but the margin between second and a third placed bank is not much. Yes Bank has a less Facebook score when compared to other banks so that is one area the bank could concentrate upon.
- Standard Chartered and Citibank India don’t have Twitter handles specifically for India. Their scores are determined only by their Facebook activities. This is the reason for their low score compared to other banks.
- Axis Bank fared the best on Facebook. They have the highest Facebook score of 88, but they did not do exceptionally well on Twitter.
- Yes Bank has engaged 11.81% of its fans. Considering their 629K fan base, it is not easy to maintain this figure. It faces a tough competition from Standard Chartered which has a fan engagement of 11.20%.
- Yes Bank has achieved the highest score on Twitter in the last month. This could be because of their involvement in the ongoing IPL which is getting them visibility on the platform.
Simplify360’s proprietary listening tool is used for collecting the data and counting the number of mentions for each company. The parameters considered for Twitter and Facebook were also gathered through Simplify360. For brands having multiple Twitter profiles, their main official account is taken into consideration. For estimating the response time, customer care handles are taken into account. In case there is no dedicated customer care handle, the official handle is considered. A Total 9 banks were considered in the analysis. Geography considered: India Period of Analysis: April 15 to May 15, 2014.